Urban Edge Properties (NYSE:UE) Issues Quarterly Earnings Results

Urban Edge Properties (NYSE:UE) issued its earnings results on Wednesday. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, reports. Urban Edge Properties had a return on equity of 20.89% and a net margin of 59.23%. The business had revenue of $112.26 million during the quarter. Urban Edge Properties updated its FY 2024 guidance to 1.320-1.350 EPS.

Urban Edge Properties Stock Down 1.5 %

Shares of NYSE UE opened at $22.24 on Friday. The business has a 50-day moving average of $21.29 and a two-hundred day moving average of $19.27. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 9.97 and a beta of 1.55. Urban Edge Properties has a 1 year low of $14.71 and a 1 year high of $22.89. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.30 and a quick ratio of 2.11.

Urban Edge Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.06%. The ex-dividend date was Friday, September 13th. Urban Edge Properties’s dividend payout ratio (DPR) is presently 30.49%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of UE. Point72 Hong Kong Ltd acquired a new stake in shares of Urban Edge Properties in the second quarter valued at approximately $50,000. GAMMA Investing LLC raised its position in Urban Edge Properties by 25.9% in the 3rd quarter. GAMMA Investing LLC now owns 2,740 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 563 shares during the last quarter. Signaturefd LLC boosted its stake in Urban Edge Properties by 91.6% during the 2nd quarter. Signaturefd LLC now owns 2,755 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 1,317 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Urban Edge Properties by 36.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,612 shares of the real estate investment trust’s stock worth $97,000 after purchasing an additional 1,221 shares during the period. Finally, Blue Trust Inc. grew its position in Urban Edge Properties by 875.1% during the 3rd quarter. Blue Trust Inc. now owns 7,947 shares of the real estate investment trust’s stock worth $170,000 after purchasing an additional 7,132 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on UE. Evercore ISI raised their price objective on Urban Edge Properties from $21.00 to $22.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. StockNews.com upgraded shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd.

About Urban Edge Properties

Urban Edge Properties is a NYSE listed real estate investment trust focused on owning, managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the Washington, DC to Boston corridor. Urban Edge owns 76 properties totaling 17.1 million square feet of gross leasable area.